Amadeus earned 664.3 million euros in 2022 with revenues close to 4.5 billion

MADRID, 24 Feb.

Amadeus earned 664.3 million euros in 2022 with revenues close to 4.5 billion


Amadeus registered a profit of 664.3 million euros in 2022, compared to losses of 122.6 million euros registered in the previous year, as reported this Friday by the technology provider of tourist services to the National Securities Market Commission (CNMV).

The recovery of tourism worldwide allowed the company to register a very positive closing of the year 2022. A year in which it returned to adjusted profit and its net debt target in 2022, resuming the dividend path.

In 2022, global air traffic continued to recover from 2019, and these air traffic developments, coupled with commercial activity, helped strengthen Amadeus' revenue, EBITDA and adjusted profit compared to 2021.

Annual revenue reached 4,485.9 million euros, which represents an improvement of 68% compared to 2021 and is 19.5% below the figure for 2019. EBITDA amounted to 1,640.4 million euros, 161.4% more than in 2021 and 26.5% less than in 2019.

Adjusted profit amounted to €742.2 million, versus a loss of €44.7 million in 2021, or 58.8% of 2019 levels.

The generation of free cash flow made it possible to reduce the degree of financial leverage. Free cash flow was €805.0 million, an increase of 724% over 2021, or €834.1 million excluding execution expenses.

As of December 31, 2022, the net financial debt was 2,284.5 million euros (1.4 times the EBITDA of the last twelve months).

The gross operating result (Ebitda) reached 1,640 million euros, which represents an increase of 161.4% compared to 2021, although it decreases by 26.5% compared to that of 2019

"Global air traffic continued to recover, while we achieved important commercial successes, gaining market share. We remain very focused on our investment plans, especially to support the solutions implemented in clients and advance in strategic areas of first order" , said the CEO of Amadeus, Luis Maroto.

"We are optimistic about the future of the travel industry and about the opportunities that lie ahead for Amadeus. In 2023, as volumes recover, we expect our financial results to continue to improve," he added.

In air distribution, bookings rose to 396.3 million, representing 92% above the 2021 bookings or 68.3% of the 2019 figure.

Air distribution revenues amounted to €2,147.8 million, an improvement of 102.3% over 2021 revenues, or 73% of 2019 revenues.

"Despite the negative effect derived from the greater weight of local reservations compared to 2019, revenue per reservation increased in 2022, thanks to certain positive effects on prices and a favorable impact of currency exchange," said the technology company.

The best-performing region in 2022 was North America, which grew 2.9% compared to 2019 and is already the largest region by bookings, accounting for 30.8% of total bookings.

While in technological solutions for the airline industry, passengers boarded totaled 1,539.5 million, 81.4% of the figure for 2021 or 77.2% of that of 2019.

Revenues from technological solutions for the airline industry amounted to 1,565.4 million euros, 46.4% more than in 2021, and represented 86% of those obtained in 2019. The best region in the year was North America, which registered a growth in the volume of passengers boarded of 11.1% compared to 2019.

Revenue from hotels and other solutions reached 772.7 million euros in 2022, representing an increase of 43.5% compared to 2021, or 95.8% of 2019.

As announced during the presentation of the financial results for the third quarter of 2022, the company will resume shareholder remuneration this year.

In June 2023, the Board of Directors will submit to the approval of the Ordinary General Meeting a full dividend of 0.74 euros per share, which represents 50% of the consolidated profit for the period.

Therefore, the proposed application of the results of 2022 that is reflected in the audited consolidated financial statements of the financial year 2022, represents the distribution of a total of 333.4 million euros as a dividend charged to the results of the financial year 2022 .